FG Denies Plans to Increase CNG Pump Prices, Reaffirms Affordability

The Presidential Initiative on Compressed Natural Gas (P-CNGI) has dismissed reports suggesting that the Federal Government has approved an increase in Compressed Natural Gas (CNG) pump prices across Nigeria.

In a statement on Thursday in Abuja, the Initiative’s Brands and Corporate Communications Manager, Matilda Johnson, said no directive or policy had been issued to alter CNG pricing.

“The P-CNGI wishes to address recent misleading and outright false reports suggesting that the Federal Government has removed subsidies or increased the price of CNG. This is incorrect,” Johnson stated.

She explained that recent price hikes by some operators were decisions made by private sector players and not government-driven, stressing that CNG will remain significantly cheaper, cleaner, and more affordable than Premium Motor Spirit (PMS) and diesel.

Johnson also noted that pricing falls under the purview of relevant regulatory agencies, but reaffirmed that government policy is focused on expanding CNG use, not raising costs.

According to her, the sector is attracting strong interest, with nearly $1 billion in private investment already committed.

“Our focus remains on deepening CNG penetration nationwide and encouraging broader private sector participation to ensure availability and affordability for all,” she added.

Reports earlier indicated that some private marketers had raised pump prices to N380 per Standard Cubic Metre (SCM) from N230, prompting Thursday’s clarification.